India to invest Rs. 31 lakh cr in green energy push by 2030, Rs. 19 lakh crore for renewables: Crisil
Notable because
India needs significant investments to achieve its near-term (2030) and long-term (2070) net-zero decarbonisation targets. The power sector, and in particular, RE and storage, dominates estimates of decarbonisation investment requirements. In addition, according to some estimates, the mobility and industrial sectors will require significant amounts of capital as well, up to USD 10 trillion over 50 years until 2070.
What to look out for in the months ahead
Will the disappointing climate finance outcome at COP29 lead developing countries to moderate their decarbonisation ambitions? Most of the long-term investment that India requires to ramp up its RE capacity is expected to be sourced domestically. Yet, about one-third will need to flow from international sources, because the domestic financial system will not be large enough to finance India’s ambitious targets.